The components of internal control includes all of the following except:
A) management philosophy and operating style
B) methods of assigning authority and responsibility
C) personnel policies and practices
D) control activities

Question

Quizplus · Accepted Answer

Control activities are actually a part of internal control components, not an exception. The components of internal control, as defined by frameworks such as COSO, include the control environment, risk assessment, control activities, information and communication, and monitoring activities. Management philosophy and operating style, methods of assigning authority and responsibility, and personnel policies and practices all fall under the control environment category, which is a component of internal control.

The Components of Internal Control Includes All of the Following